🚨🚨🚨Important for my followers🚨🚨🚨
On March 26, the United States Department of Justice announced charges against KuCoin, a well-known cryptocurrency exchange, and two of its founders, Chun Gan and Ke Tang. The charges claim that the trio conspired to operate an unlicensed money-transmitting business and violated the Bank Secrecy Act (BSA).
The accusations revolve around KuCoin's alleged failure to establish and maintain an effective Anti-Money Laundering (AML) program, allowing the exchange to be used for illegal activities like money laundering and funding terrorism.
The indictment specifically accuses KuCoin of operating without the required licenses for money transmission and failing to comply with the regulations outlined in the Bank Secrecy Act. These allegations suggest KuCoin's involvement in unlawful financial activities, prompting legal action from the Department of Justice.
